assalamualaikum, is $ENA (ethena) a halal token? After reading the white paper, I didn’t find anything doubtful except for the system eliminating dependence on the traditional banking system and the US dollar synthetic currency protocol witch is confusing. Can ENA be said to be a halal token?
Someone Answered question July 22, 2025
The core mechanism of the protocol relies heavily on perpetual futures trading and generates yields through methods that closely resemble interest-bearing activities. While the governance utility of the ENA token itself is permissible, the underlying protocol activities and revenue generation methods raise significant concerns.
Someone Answered question July 22, 2025
